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Transferring cash benefits through the banking sector in Colombia (English)

This paper reviews the experience in transacting payments through the commercial banking system, to beneficiaries in Colombia's "Familias en Accion" program. The story told will be useful to those trying to solve the operational problem of moving cash, cost-effectively to large numbers of beneficiaries in social assistance, or similar programs. It shows the options considered, their advantages, disadvantages, and costs. Though some of the details may be specific to the country, and program, the approach to the analysis is broadly applicable.

Details

  • Author

    Lafaurie V., Maria Teresa; Velasquez Leiva, Clau

  • Document Date

    2004/05/01

  • Document Type

    Working Paper (Numbered Series)

  • Report Number

    30158

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Colombia,

  • Region

    Latin America & Caribbean,

  • Disclosure Date

    2010/07/01

  • Doc Name

    Transferring cash benefits through the banking sector in Colombia

  • Keywords

    trust company;national planning department;clearing house system;nutrition and health care;primary school age child;conditional cash transfer program;economies of scale;Social Safety Nets;preventive health care;banking system;extremely poor family;gross domestic product;terms of communications;transfer cash;safety net program;amount of cash;rapid technological progress;open market operation;Safety Nets Topic;personal identification number;exchange of information;child in school;information exchange mechanism;sum of money;automatic teller machine;information system management;banking network;payment option;payment process;banking sector;banking institution;negotiation process;cash management;remote area;geographical coverage;lessons learnt;private bank;comparative analysis;financial cycle;operations manual;payment system;commercial bank;transaction cost;foreign capital;mobile telephone;risk map;foreign credit;payment schedule;geographical area;monthly payment;economic crisis;reconciliation process;market condition;banking service;tuition fee;cash payment;management cost;insurance policy;technological development;remote location;productive activity;checking account;contractual clause;bank scheme;Population Sector;settlement program;bank program;school grant;government fund;operational expense;physical infrastructure;treasury program;financial processes;resource program;banking market;electronic transaction;administrative function;principal city;nutrition grant;direct transfer;bank network;fund source;utility bill;Payments for Services;trustee service;savings account;social program;maximum amount;project administration;automatic payment;settlement process;contractual agreement;financial standing;operational capacity;operations department;collect payment;child's age;beneficiary household;logistical support;rural area;banks' share;financial crisis;economic liberalization;foreign bank;teaching material;general practitioner;monetary benefit;technological adaptation;bank system;alternative technology;cost structure;geographical location;unemployed youth;social infrastructure;absolute poverty;human capital;adequate supply;extreme poverty;educational service;government action;finance reform;private agency;direct payment;technological innovation;electronic form;payment agreement;tax subsidy;informal insurance;bank charge;market competition;advanced technology;remote terminal;special account;Public Utilities;pension system;operational term;distribution channel;alternative system;transfer system;fund management;operational efficiency;domestic capital;small municipality;financial resource;innovative technologies;account maintenance;adjacent municipality;payment mechanism;safety reason;beneficiary identification;management fee;poor household;Economic Policy;program structure;telecommunications company;

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Citation

Lafaurie V., Maria Teresa; Velasquez Leiva, Clau

Transferring cash benefits through the banking sector in Colombia (English). Social Protection discussion paper series ; no. SP 0409 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/636281468746690240/Transferring-cash-benefits-through-the-banking-sector-in-Colombia